Final IRS $1400 Stimulus Checks: If you live in Texas or any part of the US and missed your stimulus, check in 2021, then there is good news for you! The IRS (Internal Revenue Service) has recently announced that they are making automatic payments to 1 million taxpayers who mistakenly did not claim the ‘Recovery Rebate Credit’ in their 2021 tax returns.
The IRS took this decision in December 2024 and now this payment will be sent to eligible people by the end of January. If you are also one of those who missed this amount, then a big surprise may come to your bank account.
What to do to get a stimulus check?
This time the IRS has made the process very easy. Those who missed this amount in their tax returns will not need to apply separately or make corrections in their tax returns to get it. The IRS will automatically send this amount to your bank account or send it to your address in the form of a check.
If you have a 2023 tax return and bank details were given in it, then you can get this money through direct deposit. If there are no bank details, then this amount will be sent in the form of a stimulus check.
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Are you eligible to get a Final IRS $1400 Stimulus Checks?
The IRS has stated that the people who will get this amount are those who filed taxes in 2021 but did not claim the ‘Recovery Rebate Credit’.
If you are eligible to get this check, you will also get a separate notification letter from the IRS, which will confirm that your amount has been released.
Apart from this, you can check your 2021 tax return. If the ‘Recovery Rebate Credit’ column is blank or filled with ‘$0’, then you are likely to get this amount.
How much money will I get?
The amount received by each person may vary, but according to the IRS, the maximum amount can be up to $1,400. In total, an amount of $2.4 billion is being distributed across the country under this scheme.
What if I did not file a tax return in 2021?
If you did not file a tax return in 2021, you still have a chance to get this money. But for this you have to file your 2021 tax return before April 15, 2025 and claim the ‘Recovery Rebate Credit’ in it.
The IRS says that even if your income was very low or not at all, you can still be eligible for this amount. You just have to file your 2021 tax return.
Why did the IRS take this decision?
The IRS found in its internal review that there were about 1 million people who were eligible for this credit but did not claim it by mistake. To correct this mistake and to make sure that people get their rights, the IRS decided to make this automatic payment.
IRS Commissioner Danny Werfel said, “We analysed our data and found that many people did not claim this complex credit even though they were eligible. We want to make sure that these taxpayers get their money without any hassle, so we have made it automatic.”
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How to check whether you will get Final IRS $1400 Stimulus Checks or not?
If you want to check whether you will get this money or not, then take out a copy of your 2021 tax return and see.
- If the column of ‘Recovery Rebate Credit’ is blank or $0 is filled in it, then you are likely to get this amount.
- If you get an information letter from the IRS, it is confirmed that you are going to get this money.
- If you haven’t filed your 2021 tax return yet, you can still file it and claim this credit.
How to get a stimulus check?
The IRS is paying this amount in two ways
- Direct deposit – If your tax return has bank details, the money will come directly to your bank account.
- Paper check – If bank details are unavailable, the IRS will send the check to your registered address.
What to do if the money doesn’t come?
If you think you are eligible for this amount but haven’t received the money yet, you can take the following steps:
- Go to the IRS’s official website and check the status of your 2021 tax return.
- Check your bank account statement, maybe the amount has arrived and you haven’t noticed.
- If you still don’t understand anything, contact your tax preparer or accountant and ask them to check your tax return.
- Call the IRS helpline and confirm your status.
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Conclusion
If you are one of the 1 million people who accidentally didn’t claim the stimulus check in 2021, now you have a big chance! You don’t need to fill any extra forms or go through any process – the IRS itself is sending this money to your account. So, if you get this money, use it properly and strengthen your financial position.
